IDB executive directors get to know Belize
Over the last several years the Washington based Interamerican Development Bank has become the lender of choice for the Belize government’s most critical development projects. That relationship was cemented by the IDB’s rapid response in the wake of Hurricane Keith. Today a high powered team of IDB executive directors arrived in the country to see if their money was well spent, and to look at new projects for the future. They were welcomed by Belize’s financial point-man, Ralph Fonseca.
Ralph Fonseca, Min. of Budget Planning
“It’s a very, very special day for Belize because we have so many directors here, executive directors of the Interamerican Development Bank. The bank as you know has become of the Belize’s most important developmental partners. The first important factor is that they’re coming at a time right after the hurricane when they have a chance to see the results of the confidence that they demonstrated in Belize by accepting Belize’s recovery management strategy. Thanks to the Interamerican Development Bank’s quick action and confidence in the programme that we put in front of them, and especially these are executive directors at the board level, we were able to get the emergency reconstruction fund approved right away so we could get moving right away. You’ll recall the people like the Development Finance Corporation were on the beaches writing loans, even before the winds had died down. So we want to show them that in fact their confidence in us has proven itself out and also have a chance to thank them and have Belizean people thank these gentlemen who were very important of that decision making.”
Edgard Guerra, IDB Executive Dir. for C.A. and Belize
“This is a very important visit because this is the first time that the directors can come and see, make an analysis and discuss with the government how the project has been developed, so we can have a much better idea–when the next loans come to the bank–the approval they need. Remember that the bank was one of the institutions that act so quickly that we gave to Belize City important loans for the reconstruction, the twenty million dollars. So I was talking to the government to get this invitation an finally we got here, nine of the fourteen executive directors have come to Belize City.”
In addition to visiting sites of hurricane rehabilitation, the IDB team will take a close look at growth industries like aquaculture and tourism, particularly in the south. Before leaving on Saturday, the officials, along with IDB country director, Hugo Souza, will meet with Prime Minister Said Musa, Minister of Works Henry Canton and Minister of National Security Jorge Espat.
